Security Deposit and First Week Deposit?

Collapse
X
 
  • Time
  • Show
Clear All
new posts
  • Reimel61
    Daycare.com Member
    • Oct 2012
    • 66

    Security Deposit and First Week Deposit?

    I contracted with a family in November 2019 for start in February 2020. i have already received payment for the security deposit and the first week tuition. What year do I claim this? 2019 or 2020? Thanks.
  • TomCopeland
    Business Author/Trainer
    • Jun 2010
    • 3062

    #2
    when to deposit income?

    Originally posted by Reimel61
    I contracted with a family in November 2019 for start in February 2020. i have already received payment for the security deposit and the first week tuition. What year do I claim this? 2019 or 2020? Thanks.
    2019. Report income in the year you receive it, not the year you earned it. See my article on this: http://tomcopelandblog.com/when-do-you-report-income-3
    http://www.tomcopelandblog.com

    Comment

    Working...